Chery Auto sets Brazilian headquarters in St. Paul

Chery Automobile Co Ltd, the largest private auto maker in China, has decided to locate its Brazilian headquarters in St. Paul, Brazil-based Agencia Estado reported on Tuesday.

Chery's Brazilian headquarters will cover an area of 10,000 square meters. The initial vehicle model to be made in the plant will be the Chery Tiggo SUV, according to the report.

Chery Auto, which has been seeking overseas expansion, earlier this month said it planned to build a US$700 million plant in the state of Rio de Janeiro, Brazil. The plant is designed to have an annual production capacity of 150,000 vehicles.

The auto maker earlier said it aims to sell 3,000 vehicles in Brazil per year.

China's Anhui Jianghuai Automobile Co Ltd, a leading bus chassis manufacturer, on Thursday confirmed that it will build a plant at the Acu port complex in the state of Rio de Janeiro.

Ma Deji, Chery's deputy general manager, said in May that the company may raise its annual sales target by 50% to 300,000 units in 2009 if the auto market continues to improve.